Rockland has dropped its lawsuit against the owner of the galleon RawFaith in exchange for excise taxes and mooring fees.

A stipulation of dismissal by both the city and Capt. George McKay was dated Jan. 22 for 6th District Court of Rockland.

Under the agreement, McKay agreed to pay $1,000 for the 2009 excise tax on the vessel and $462 in mooring fees to cover the past three years (2007, 2008 and 2009).

The RawFaith left Rockland Harbor late last year after spending the better part of the past three years moored in the city’s waters.

The city filed the lawsuit last year to force McKay to make the payments. In its decision to drop the suit, the city agreed not to seek fines or costs for attorney fees. McKay must pay the $1,462 by March 31 or the city will have the right to refile the lawsuit.

The vessel is 88 feet long on the deck with a total length of 118 feet.

The RawFaith was built by McKay and family members. The inspiration for the vessel was from McKay’s oldest child, Elizabeth, who has spent most of her life in a wheelchair due to Marfan syndrome. After experiencing mountains of bills, restrictions on field trips and family outings, and intra-family stress, the McKays decided to build a sailing vessel that was wheelchair accessible, their Web site states. Over time, the McKays’ mission to improve their quality of life grew to include others.